TYA vs. FFUT

Last updated Jun 24, 2026

TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and FFUT (Fidelity Managed Futures ETF) are both exchange-traded funds - TYA is a Government Bonds fund actively managed by Simplify, while FFUT is a Systematic Trend fund actively managed by Fidelity. Both are actively managed. Over the past year, TYA returned -0.95% vs 18.72% for FFUT. At a correlation of -0.36, they often move in opposite directions. TYA charges 0.15%/yr vs 0.80%/yr for FFUT.

Performance

TYA vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and Fidelity Managed Futures ETF (FFUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TYA achieves a -5.34% return, which is significantly lower than FFUT's 8.83% return.

TYA

• 1D: 0.27%
• 1M: 0.70%
• YTD: -5.34%
• 6M: -5.34%
• 1Y: -0.95%
• 3Y*: -1.87%
• 5Y*: —
• 10Y*: —

FFUT

• 1D: -0.36%
• 1M: -2.69%
• YTD: 8.83%
• 6M: 9.28%
• 1Y: 18.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TYA vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	-5.34%	5.28%
FFUT Fidelity Managed Futures ETF	8.83%	8.58%

Correlation

The correlation between TYA and FFUT is -0.35, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.35
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	-0.36

Return for Risk

TYA vs. FFUT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TYA

TYA Risk / Return Rank: 8
TYA Sharpe Ratio Rank: 8
TYA Sortino Ratio Rank: 7
TYA Omega Ratio Rank: 7
TYA Calmar Ratio Rank: 8
TYA Martin Ratio Rank: 8

FFUT

FFUT Risk / Return Rank: 64
FFUT Sharpe Ratio Rank: 51
FFUT Sortino Ratio Rank: 51
FFUT Omega Ratio Rank: 54
FFUT Calmar Ratio Rank: 84
FFUT Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TYA vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and Fidelity Managed Futures ETF (FFUT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	TYA	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	-0.08	1.68	-1.75
Sortino ratio: Return per unit of downside risk	-0.02	2.40	-2.41
Omega ratio: Gain probability vs. loss probability	1.00	1.32	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.08	4.35	-4.43
Martin ratio: Return relative to average drawdown	-0.20	14.55	-14.76

TYA vs. FFUT - Sharpe Ratio Comparison

The current TYA Sharpe Ratio is -0.08, which is lower than the FFUT Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of TYA and FFUT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TYA vs. FFUT - Drawdown Comparison

The maximum TYA drawdown since its inception was -51.15%, which is greater than FFUT's maximum drawdown of -4.33%. Use the drawdown chart below to compare losses from any high point for TYA and FFUT.

Drawdown Indicators

	TYA	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-51.15%	-4.33%	-46.82%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-4.33%	-7.47%
Max Drawdown (3Y) Largest decline over 3 years	-21.36%	—	—
Current Drawdown Current decline from peak	-41.65%	-4.33%	-37.32%
Average Drawdown Average peak-to-trough decline	-35.88%	-0.96%	-34.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	1.29%	+3.38%

Volatility

TYA vs. FFUT - Volatility Comparison

Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) has a higher volatility of 3.58% compared to Fidelity Managed Futures ETF (FFUT) at 2.93%. This indicates that TYA's price experiences larger fluctuations and is considered to be riskier than FFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TYA	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	2.93%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	8.97%	+0.17%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	11.22%	+1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.50%	11.02%	+9.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.50%	11.02%	+9.48%

TYA vs. FFUT - Expense Ratio Comparison

TYA has a 0.15% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

TYA vs. FFUT - Dividend Comparison

TYA's dividend yield for the trailing twelve months is around 3.88%, more than FFUT's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021
FFUT Fidelity Managed Futures ETF	1.92%	2.09%	0.00%	0.00%	0.00%	0.00%
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	3.88%	3.85%	4.84%	4.28%	2.23%	0.11%

Frequently Asked Questions

Can I hold both TYA and FFUT in my portfolio?

TYA and FFUT have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TYA or FFUT?

TYA has higher volatility (3.58%) compared to FFUT (2.93%). In terms of maximum drawdown, TYA dropped -51.15% vs FFUT's -4.33%.

Which ETF is better, TYA or FFUT?

On 1-year performance, FFUT leads with 18.72% vs -0.95% for TYA. On fees, TYA is cheaper at 0.15% per year. On volatility, FFUT has been the lower-risk option at 2.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TYA or FFUT?

Over the 1-year period, FFUT has performed better with a 18.72% return vs -0.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TYA or FFUT?

TYA is cheaper with a 0.15% expense ratio, compared with 0.80% for FFUT.

Which ETF pays a higher dividend yield, TYA or FFUT?

TYA has the higher dividend yield at 3.88%, compared with 1.92% for FFUT.

What is the main difference between TYA and FFUT?

TYA is categorized as Government Bonds, while FFUT is Systematic Trend. They also come from different issuers: Simplify and Fidelity. Their fees differ too: 0.15% for TYA and 0.80% for FFUT.

Which has better risk-adjusted returns?

FFUT currently has the higher Sharpe Ratio (1.68 vs -0.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.